Navigator Holdings Enters Into Long Term Charter For Midsize Newbuilding

Navigator Holdings Ltd. announced on Wednesday (Nov 11) that is has entered into a long term charter for a midsize gas carrier.

The company will enter into a building contract for the construction of this fully-refrigerated LPG vessel at Hyundai Mipo Shipyard in South Korea for delivery in August 2017. Company’s second midsize ethane carrier will front-run the contract until delivery of the newbuild.

Image: navigatorgas

In its financial results for the third quarter of 2015, Navigator reported a revenue of USD 78.2 million, and net income of USD 22.7 million.

The company’s EBITDA increased to USD 44 million, notwithstanding Navigator Aries being out of service following her collision in June 2015, and the sale of Navigator Mariner.